Industry Preparation for HIPs Regulation Change Essential, urges
NHBC

The National House-Building Council (NHBC) is
urging builders to ready themselves for Home Information Pack (HIP)
requirements that come into force throughout England and Wales on 6
April.

From that date, sellers will no longer have a 28-day grace period
from when the HIP is ordered to prepare the pack – instead, a HIP
must be available before a property is marketed.

NHBC fears that builders are either unaware or unprepared for the
changes and, as a result, risk financial penalty and unnecessary
delays.

The Government announced the changes to the HIP regulations at the
end of last year, with the aim of ending some of the transitional
arrangements that have been in place since their first introduction.

Builders will also be required to include further information, such
as flood risk, parking arrangements and warranty details via a
Property Information Questionnaire (PIQ).

Mark Griffin, who heads up NHBC’s HIP service said: “These new
requirements impose greater challenges on builders to have the right
information available at the right time. The time taken to prepare
HIPs and the logistics around distribution, particularly on larger
developments should not be underestimated.

“Builders will need to consider the implications of the new
requirements and plan ahead to ensure packs are prepared and
available ahead of marketing”.

NHBC has developed and launched an online HIP service that can
distribute HIPs cost effectively through an online portal to assist
builders. The service is fully managed by NHBC, reducing the burden
on builders to gather information and ensure compliance with the
regulations.

Griffin continued: “Failure to comply with the new HIP rules doesn’t
just carry a potential fine, but it could also delay the property
being put on the market. In the current economic climate, few can
afford to risk missing out on sales or incurring extra costs.”